TUTOR RONALD N 4
4 · TUTOR PERINI CORP · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Tutor Perini (TPC) 10% Owner Ronald Tutor Sells 308,441 Shares
What Happened Ronald N. Tutor, a reported 10% owner of Tutor Perini Corporation (TPC), had two cash settlements of vested phantom stock units that are reported as dispositions back to the issuer. On March 12, 2026, 155,509 phantom units vested and were settled in cash at $69.20 per unit for proceeds of $10,761,223. On March 13, 2026, 152,932 phantom units vested and were settled in cash at $67.76 per unit for proceeds of $10,362,672. Combined proceeds from these settlements were $21,123,895. The filing also reports a grant on March 11, 2026 of 58,510 cash-settled phantom units that vest December 31, 2026 (contingent on continued employment).
Key Details
- Transaction dates and prices:
- 3/12/2026: 155,509 units settled at $69.20 → $10,761,223
- 3/13/2026: 152,932 units settled at $67.76 → $10,362,672
- 3/11/2026: grant of 58,510 phantom units (vests 12/31/2026)
- Total shares reported as disposed (cash-settled): 308,441; total cash proceeds ≈ $21,123,895.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Footnotes (summary):
- F1/F2: The settled items were cash-settled phantom stock units granted in prior years and paid in cash on vesting; no market shares were bought or sold in settlement, but SEC rules require reporting as acquisitions and dispositions back to the issuer.
- F3: The new 58,510-unit award vests on 12/31/2026, contingent on continued employment.
- Filing timeliness: Form 4 was filed 2026-03-13 covering events through 2026-03-13; transactions appear to be reported within the normal two-business-day window.
Context
- These were cash-settled phantom unit vestings (derivative awards) rather than open-market sales of owned stock. The reporting shows cash settlement proceeds, not purchases or open-market dispositions of previously held common shares.
- As a reported 10% owner, Tutor is a significant insider; these awards and cash settlements are part of compensation/vesting mechanics rather than direct market trades indicating buy/sell decisions.
Insider Transaction Report
Form 4
TUTOR RONALD N
Director10% OwnerOther
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-03-12+155,509→ 155,509 total - Disposition to Issuer
Common Stock
[F1]2026-03-12$69.20/sh−155,509$10,761,223→ 0 total - Exercise/Conversion
Common Stock
[F2]2026-03-13+152,932→ 152,932 total - Disposition to Issuer
Common Stock
[F2]2026-03-13$67.76/sh−152,932$10,362,672→ 0 total - Exercise/Conversion
Phantom Stock Units
[F1]2026-03-12−155,509→ 0 total→ Common Stock (155,509 underlying) - Exercise/Conversion
Phantom Stock Units
[F2]2026-03-13−152,932→ 152,931 total→ Common Stock (152,932 underlying) - Award
Phantom Stock Units
[F3]2026-03-11+58,510→ 58,510 total→ Common Stock (58,510 underlying)
Holdings
- 4,134,967(indirect: By Trust)
Common Stock
- 711,477(indirect: By Trust)
Common Stock
- 1,533,255(indirect: By Trust)
Common Stock
Footnotes (3)
- [F1]On March 12, 2025, the reporting person was granted 155,509 cash-settled phantom stock units that vested on March 12, 2026. These phantom stock units settled in cash at a value equal to the number of units vested multiplied by the closing price per share of common stock of Tutor Perini Corporation (Issuer) on the vesting date. The reporting person did not purchase or sell any shares of common stock in the settlement of this award, however, the transaction is required to be reported as an acquisition and disposition of shares back to the Issuer under SEC reporting principles.
- [F2]On March 13, 2024, the reporting person was granted 458,795 cash-settled phantom stock units, of which 152,932 vested on each of March 13, 2025 and 2026, and 152,931 vest on December 31, 2026, contingent upon the reporting person's continued employment through each applicable vesting date. The 152,932 phantom stock units that vested on March 13, 2026 were settled in cash at a value equal to the number of units vested multiplied by the closing price per share of common stock of Tutor Perini Corporation (Issuer) on the vesting date. The reporting person did not purchase or sell any shares of common stock in the settlement of this award, however, the transaction is required to be reported as an acquisition and disposition of shares back to the Issuer under SEC reporting principles.
- [F3]On March 11, 2026, the reporting person was granted 58,510 cash-settled phantom stock units that vest on December 31, 2026 contingent upon the reporting person's continued employment through the vesting date. Under the SEC rules, these phantom stock units are considered derivative securities that convert to shares, on a one-for-one basis, and are settled in cash on the vesting date.
Signature
/s/ Ifigenia Protopappas, Attorney-in-Fact|2026-03-13